Mcap of 7 top firms rises by Rs 1.18 lakh crore last week

Mumbai, Sep 21 (IANS) The combined market valuation of seven of the country’s 10 most valued companies climbed by Rs 1,18,328.29 crore last week, with State Bank of India and Bharti Airtel emerging as the biggest gainers in an upbeat equity market.

During the week, the BSE benchmark index surged 721.53 points, or 0.88 per cent -- reflecting strong investor sentiment.

Among the gainers, the market value of State Bank of India jumped by Rs 35,953.25 crore to reach Rs 7,95,910 crore, while Bharti Airtel’s valuation rose by Rs 33,214.77 crore, taking it to Rs 11,18,952.64 crore.

Tata Consultancy Services (TCS) added Rs 12,952.75 crore, pushing its market capitalisation to Rs 11,46,879.47 crore.

Life Insurance Corporation of India (LIC) also advanced Rs 12,460.25 crore to Rs 5,65,612.92 crore, while Infosys climbed Rs 6,127.73 crore to Rs 6,39,901.03 crore.

HDFC Bank recorded a marginal rise of Rs 230.31 crore, with its valuation standing at Rs 14,84,816.26 crore.

On the losing side, ICICI Bank’s market value declined by Rs 10,707.87 crore to Rs 10,01,654.46 crore.

Bajaj Finance lost Rs 6,346.93 crore, slipping to Rs 6,17,892.72 crore and Hindustan Unilever shed Rs 5,039.87 crore to Rs 6,01,225.16 crore.

At the end of the week, HDFC Bank remained among the most valued company, followed by TCS, Bharti Airtel, ICICI Bank, State Bank of India, Infosys, Bajaj Finance, Hindustan Unilever and LIC.

Meanwhile, in the previous week ended September 7, the combined market valuation of seven top firms had risen by Rs 1,06,250.95 crore, with Bajaj Finance emerging as the biggest gainer as the BSE benchmark jumped 901.11 points, or 1.12 per cent.

In the previous week, Bajaj Finance’s market value jumped by Rs 40,788.38 crore to reach Rs 6.24 lakh crore. Infosys added Rs 33,736.83 crore, taking its valuation to Rs 6.33 lakh crore.

--IANS

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